Dodge Momentum Index holds steady in May
The Dodge Momentum Index remained unchanged in May at 122.3, reports Dodge Data & Analytics. The Momentum Index is a monthly measure of the first report for nonresidential building projects in planning.
In May, institutional building rose 3.1 percent while commercial building fell 2.2 percent. Eight projects in the institutional sector exceeded $100 million, including the $466 million Vassar Brothers Medical Center Pavilion in Poughkeepsie, N.Y., and the $400 million Covenant Medical Center Tower in Lubbock, Texas. In addition, six commercial projects in May valued at over $100 million, including a $300 million warehouse in distribution center in Kearny, N.J., and a $113 million retail center in Sarasota, Fla.
So far in 2015, the Index has been flat. However, the Index in May of 2015 is up 6.1 percent compared to May of 2014. According to Dodge Data & Analytics, several factors are expected to help the Index move beyond its current plateau and continue to move upward, including further improvement by market fundamentals for commercial real estate and increased funding support for construction projects from state and local governments.
Charts: Dodge Data & Analytics
About the Author: Allison Kral
Allison Kral is the former senior digital media manager for North Coast Media (NCM). She completed her undergraduate degree at Ohio University where she received a Bachelor of Science in magazine journalism from the E.W. Scripps School of Journalism. She works across a number of digital platforms, which include creating e-newsletters, writing articles and posting across social media sites. She also creates content for NCM's Portable Plants magazine, GPS World magazine and Geospatial Solutions. Her understanding of the ever-changing digital media world allows her to quickly grasp what a target audience desires and create content that is appealing and relevant for any client across any platform.Subscribe to Pit & Quarry
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